Maharashtra Finance Minister meets bankers to promote PMSBY

Mumbai: Maharashtra Finance Minister Sudhir Mungantiwar on Wednesday said that he had taken a review meeting of bankers last week to promote the 'Pradhan Mantri Bima Suraksha Yojana' (PMSBY) which will be launched by Prime Minister Narendra Modi on May 9 along with two other ambitious schemes.

PM Modi will be launching three schemes -PMSBY, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and an old age income security pension scheme - the Atal Pension Yojana (APY)throughout the country.

Mungantiwar stated these schemes had been announced by Union Finance minister Arun Jaitley during his budget speech and the aim is to create a universal social security system, targeted especially at the poor and the under-privileged.

Mungantiwar added that Prime Minister Modi will initiate the launch of these schemes at a function to be held in Kolkata, while Maharashtra Chief Minister Devendra Fadnavis will simultaneously launch the schemes in Mumbai.

There will be 12 different launching programmes for these schemes in various districts of the state, he said.

"These are revolutionary schemes and if I can reach 11 crore people of Maharashtra, the entire scenario will change. There will be no restrictions of BPL (Below Poverty Level) or APL (Above Poverty Level) and thus anybody in the age group of 18 to 70 years can purchase PMSBY policy by only paying one rupee per month," the Minister said.

Mungantiwar added, however, these schemes will only be applicable to those who have a bank account.